Edgar Filing: ASHNER MICHAEL L

Ownership Submission

FORM 4

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

ASHNER MICHAEL L

2. Issuer Name and Ticker or Trading Symbol
LEXINGTON REALTY TRUST [LXP]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

__X__ Director	_____ 10% Owner
__X__ Officer (give title below)	_____ Other (specify below)
Executive Chairman

(Last)

(First)

(Middle)

C/O WINTHROP REALTY PARTNERS, L.P., TWO JERICHO PLAZA WING A

3. Date of Earliest Transaction (Month/Day/Year)
03/03/2008

(Street)

JERICHO, NY 11753

4. If Amendment, Date Original Filed(Month/Day/Year)

6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

(City)

(State)

(Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Shares of Beneficial Interest, par value $.0001	03/03/2008		P		50,000 ⁽¹⁾	A	$ 14.647 ⁽¹⁾	331,070 ⁽²⁾ ⁽³⁾	D

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security
(Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code
(Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date
(Month/Day/Year)

7. Title and Amount of Underlying Securities
(Instr. 3 and 4)

8. Price of Derivative Security
(Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)

11. Nature of Indirect Beneficial Ownership
(Instr. 4)

Code

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
ASHNER MICHAEL L C/O WINTHROP REALTY PARTNERS, L.P. TWO JERICHO PLAZA WING A JERICHO, NY 11753	X		Executive Chairman

Signatures

Michael L. Ashner		03/03/2008
^**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Shares represent total number of shares purchased and purchase price represents average weighted purchase price for total shares purchased. Individual transactions by per share price were as follows: Number of Shares Purchase Price per Share 300 14.53 571 14.54 729 14.55 1300 14.56 1000 14.57 500 14.58 300 14.59 400 14.60 1100 14.61 612 14.62 1300 14.63 1288 14.64 500 14.65 40100 14.66
(2)	Shares consist of (i) 275,070 shares held by the Reporting Person, (ii) 10,520 held by the Reporting Person's IRA, (iii) 8,280 shares held by the Reporting Person's spouse's IRA, (iv) 25,200 shares held in trust for the Reporting Person's children and (v) 12,000 held by the Ashner Family Evergreen Foundation, a New York not for profit corporation, an entity in which the Reporting Person is a director.
(3)	Reporting person also holds 847,543 units of limited partnership in The Lexington Master Limited Partnership which are redeemable for cash or, at the electionof Lexington Realty Trust ("Lexington"), common shares of beneficial interest in Lexington on a one for one basis.

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